Minister of National Development Planning Suharso Monoarfa inaugurated the launch of the Blue Finance Instrument Development Guideline, Tuesday (1/11/2022).
The Blue Finance Instruments Development Guideline document was prepared by the Ministry of National Development Planning with support from the Ministry of Finance, the Coordinating Ministry for Maritime Affairs and Investment, and other development partners.
This document contains the implementation steps in developing blue funding instruments, especially related to the issuance of Blue Bonds or Sukuk, and the need for a national committee that can provide consideration or direction related to blue funding in Indonesia.
In addition, this document can also be used nationally as a reference and can be a complement to existing related documents, including the SDGs Government Security Framework.
“Building a sustainable and prosperous blue economy can contribute to increasing income from sea-based activities which can then be channeled back to marine conservation, encouraging sustainable livelihoods for coastal communities and conserving marine biodiversity by restoring marine and coastal ecosystems,” said Minister Suharso in his remarks.
“The Blue Economy concept was developed to answer the challenges of an economic system that still tends to be exploitative and damaging to the environment, namely exceeding the capacity or carrying capacity of the ecosystem,” he continued.
According to him, the core of the Blue Economy is sustainable development which is part and at the same time enrichment of the Green Economy with the motto “Blue Sky – Blue Ocean” where the economy can grow, people prosper, but the sky and sea remain blue.
At the same time, the blue economy will also become the foundation of Indonesia’s economic transformation strategy toward inclusive and sustainable economic growth.
In addition, economic transformation through the blue economy initiative is expected to reduce the country’s economic dependence on extractive industries by becoming a model for developing sustainable marine-based industries.
As additional information, in November 2021, the Ministry of National Development Planning/Bappenas published the Indonesia Blue Economic Development Framework which was prepared with support from the OECD.
This document consists of an integrated and comprehensive approach considering the enormous potential of Indonesia’s marine resources, the need to enhance synergies between stakeholders and sectors, as well as some of the opportunities and challenges that arise in the pursuit of integrated marine management.
Resources : Bappenas